Sysco Co. (NYSE:SYY) Shares Sold by Stokes Family Office LLC

Stokes Family Office LLC reduced its position in Sysco Co. (NYSE:SYY) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,600 shares of the company’s stock after selling 1,475 shares during the quarter. Stokes Family Office LLC’s holdings in Sysco were worth $1,287,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Invesco Ltd. grew its position in Sysco by 11.0% in the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock valued at $717,283,000 after acquiring an additional 1,076,287 shares in the last quarter. Northern Trust Corp grew its position in Sysco by 3.0% in the 3rd quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock valued at $405,435,000 after acquiring an additional 178,464 shares in the last quarter. Bank of New York Mellon Corp grew its position in Sysco by 4.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,651,746 shares of the company’s stock valued at $373,298,000 after acquiring an additional 265,621 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Sysco by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,738,940 shares of the company’s stock valued at $180,907,000 after acquiring an additional 21,700 shares in the last quarter. Finally, Clarkston Capital Partners LLC grew its position in Sysco by 0.4% in the 3rd quarter. Clarkston Capital Partners LLC now owns 2,320,060 shares of the company’s stock valued at $153,240,000 after acquiring an additional 9,385 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SYY has been the subject of several research reports. Truist Financial dropped their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets lifted their price objective on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. lifted their price objective on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. UBS Group decreased their price objective on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Barclays lifted their price objective on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.90.

Insiders Place Their Bets

In other Sysco news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.58% of the stock is currently owned by corporate insiders.

Sysco Stock Up 1.5 %

SYY stock traded up $1.11 during trading on Friday, hitting $75.36. 2,709,189 shares of the company’s stock were exchanged, compared to its average volume of 2,970,944. The business has a 50-day moving average price of $78.76 and a two-hundred day moving average price of $75.09. The stock has a market capitalization of $37.52 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.48 and a beta of 1.16. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 5.77.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. The firm had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. As a group, equities research analysts expect that Sysco Co. will post 4.33 EPS for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.51 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 annualized dividend and a yield of 2.71%. Sysco’s payout ratio is 48.78%.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.